Capital Dynamics opens Tokyo office

The Swiss fund of funds manager has secured ex-AI Capital head Kazushige Kobayashi to lead its second office in Asia. News of the office opening comes shortly after PERE learned the firm is planning its first Asia real estate fund of funds.

Zug-headquartered fund of funds manager Capital Dynamics is opening a Tokyo office, which will be led by ex-Alternative Investment Capital head Kazushige Kobayashi.

The Tokyo office, which is set to open on 1 November, is Capital Dynamics’ second office in Asia. The firm has an existing office in Hong Kong, which it opened in 2006.

Kobayashi served as president and chief executive officer at Alternative Investment Capital (AI Capital) for eight years. Prior to that, he worked in private equity-related business at Mitsubishi Corporation in Tokyo and London.

Kobayashi is being replaced at AI Capital by Tappei Shimizu, who previously served as executive vice president.

In his role as managing director at Capital Dynamics, Kobayashi will “foster new business within the sophisticated and potential-rich Japanese market”, the statement noted. It added that Capital Dynamics chose Tokyo to expand its presence in Asia, as the firm “believes Japan offers a wealth of current and long-term investment potential”.

It is not the only fund of funds manager to think so. In expanding into Tokyo from Hong Kong, Capital Dynamics follows on the heels of HarbourVest Partners, which set up in the Japanese city in April. Boston-headquartered HarbourVest, which has had a Hong Kong office since 1996, appointed Tatsuya Kubo from Fortress Investment Group to head its second Asian office.

For Capital Dynamics, the expansion across Asia comes shortly after the firm put its first roots down in Latin America, having opened an office in Rio de Janeiro in July.

The firm is expected to shortly launch its first Asia real estate fund of funds aimed at providing European investors access to funds in the region. The vehicle is to be led by another new recruit, Matthias Sturmer, who quit now-defunct Pacific Star Europe to take up the position of co-global head of real estate earlier this month.

Established in 1999, Capital Dynamics has managed and advised on more than $21 billion. The firm focuses on investments in private equity, clean energy and infrastructure, and real estate across offices in London, New York, Zurich, Tokyo, Hong Kong, Silicon Valley, Rio de Janeiro, Munich, Birmingham, and Zug.